R
Ricky Bhurji
Member
Premium Member
I was reading an article over the weekend where the Residential Landlords Association Action commented that the government needs to tackle the scandal of ‘buy to leave’ investors who are denying Londoners the homes they need.
The RLA says with almost 57,000 homes in the capital thought to be empty, the next Mayor of London needs to use the powers available to ensure such homes are being used either by landlords who want to offer properties to live in or are available to for purchase by would be home owners.
It says that while ministers have introduced a wide number of tax changes designed to hit those purchasing additional property, many of these will not affect overseas investors who traditionally buy homes then leave them empty.
The RLA’s ‘Manifesto for London’ calls also for new ways to enforce the large number of powers available to councils to protect tenants from criminal landlords and for greater efforts to free up small plots of unused land across London for the development of homes to rent the capital desperately needs.
According to an analysis by the accountants PwC, around 60 per cent of Londoners will be in private rented housing by 2025. The RLA is calling for the new Mayor to work positively with landlords to ensure that these homes are safe, legal and secure by encouraging good landlords to develop new homes.
I have seen and heard this happening in second tier cities too now - middle eastern investors are buying luxury penthouses in places like Guildford and Reading and leaving them empty! Has anyone else seen/heard of this in an area near them?
The RLA says with almost 57,000 homes in the capital thought to be empty, the next Mayor of London needs to use the powers available to ensure such homes are being used either by landlords who want to offer properties to live in or are available to for purchase by would be home owners.
It says that while ministers have introduced a wide number of tax changes designed to hit those purchasing additional property, many of these will not affect overseas investors who traditionally buy homes then leave them empty.
The RLA’s ‘Manifesto for London’ calls also for new ways to enforce the large number of powers available to councils to protect tenants from criminal landlords and for greater efforts to free up small plots of unused land across London for the development of homes to rent the capital desperately needs.
According to an analysis by the accountants PwC, around 60 per cent of Londoners will be in private rented housing by 2025. The RLA is calling for the new Mayor to work positively with landlords to ensure that these homes are safe, legal and secure by encouraging good landlords to develop new homes.
I have seen and heard this happening in second tier cities too now - middle eastern investors are buying luxury penthouses in places like Guildford and Reading and leaving them empty! Has anyone else seen/heard of this in an area near them?
